DE SERRE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DE SERRE
Largest movements
- Receivables within one year +€70,684
up €70,684 (+143.4%), from €49,307 to €119,991
of which Trade receivables: +€62,445
- Cash +€42,558
up €42,558 (+307.5%), from €13,842 to €56,400
mainly Trade debts (+€98,199) and Net result for the year (+€11,403)
- Deferred charges and accrued income -€4,553
down €4,553 (-83.4%), from €5,457 to €905
- Stocks and contracts +€2,000
new in 2025: €2,000
- Trade debts +€98,199
up €98,199 (+154.4%), from €63,620 to €161,820
- Profit (loss) carried forward +€11,403
up €11,403, from -€8,035 to €3,367
- Gross operating margin +€3,177
up €3,177 (+34.1%), from €9,327 to €12,504
- Depreciation +€241
up €241 (+1487.4%), from €16 to €257
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,875 | €186,307 | +€110,432 | +145.5% |
| Fixed assets | 21/28 | €7,269 | €7,012 | -€257 | -3.5% |
| Tangible fixed assets | 22/27 | €1,269 | €1,012 | -€257 | -20.3% |
| Plant, machinery and equipment | 23 | €1,269 | €1,012 | -€257 | -20.3% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €68,606 | €179,295 | +€110,689 | +161.3% |
| Stocks and contracts in progress | 3 | - | €2,000 | +€2,000 | |
| Stocks | 30/36 | - | €2,000 | +€2,000 | |
| Amounts receivable within one year | 40/41 | €49,307 | €119,991 | +€70,684 | +143.4% |
| Trade receivables | 40 | €48,196 | €110,642 | +€62,445 | +129.6% |
| Other amounts receivable | 41 | €1,110 | €9,349 | +€8,239 | +742.0% |
| Cash at bank and in hand | 54/58 | €13,842 | €56,400 | +€42,558 | +307.5% |
| Deferred charges and accrued income | 490/1 | €5,457 | €905 | -€4,553 | -83.4% |
| Total equity and liabilities | 10/49 | €75,875 | €186,307 | +€110,432 | +145.5% |
| Equity | 10/15 | €10,565 | €21,967 | +€11,403 | +107.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,035 | €3,367 | +€11,403 | |
| Amounts payable | 17/49 | €65,310 | €164,340 | +€99,029 | +151.6% |
| Amounts payable within one year | 42/48 | €65,310 | €164,340 | +€99,029 | +151.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €18 | €50 | +€32 | +177.9% |
| Other loans | 439 | €18 | €50 | +€32 | +177.9% |
| Trade debts | 44 | €63,620 | €161,820 | +€98,199 | +154.4% |
| Suppliers | 440/4 | €63,620 | €161,820 | +€98,199 | +154.4% |
| Taxes, remuneration and social security | 45 | €352 | €1,667 | +€1,314 | +373.2% |
| Taxes | 450/3 | €352 | €1,667 | +€1,314 | +373.2% |
| Other amounts payable | 47/48 | €1,320 | €803 | -€516 | -39.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16 | €257 | +€241 | +1487.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €9,327 | €12,504 | +€3,177 | +34.1% |
| Operating profit (loss) | 9901 | €8,805 | €11,727 | +€2,922 | +33.2% |
| Financial income | 75/76B | €0 | €66 | +€66 | +658500.0% |
| Recurring financial income | 75 | €0 | €66 | +€66 | +658500.0% |
| Financial charges | 65/66B | €454 | €391 | -€63 | -14.0% |
| Recurring financial charges | 65 | €454 | €391 | -€63 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €8,351 | €11,403 | +€3,052 | +36.5% |
| Profit (loss) for the period | 9904 | €8,351 | €11,403 | +€3,052 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,351 | €11,403 | +€3,052 | +36.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.